Ricchetti announces turnover of 164.8 million euro in first half of 2003

Sep 10, 2003

10/09/03 - The Ceramiche Ricchetti Group has reported a turnover of 164.8 million euro in first half of the year. This is the most important economic figure, slightly down on the same period in 2002, announced by the board of directors of the Group from Casalgrande (province of Reggio Emilia, Italy).
Pre-tax profits were 3.9 million euro, Ebitda margin 10.8% and Ebit margin 4.2%. Net financial indebtedness dropped to 107.5 million euro, 3.5% down on the 111.4 million euro of the first half of 2002.
The Group's parent company, Ceramiche Ricchetti, reported a turnover of 83.5 million euro and pre-tax profits of 1.6 million euro. Revenues from sales were influenced by the sale of a building for 6.7 million euro.

Commenting on the economic figures, the Group's chairman and managing director Oscar Zannoni analysed the sector's performance as follows: "Macroeconomic scenarios remain uncertain both in the USA and in Europe, with GDP down by 0.1% in the first quarter in Italy. The Modena ceramic manufacturing area is also suffering, with a sharp slowdown in exports for the first time.
Exports are penalised amongst other things by the strong recovery of the euro against the dollar, which has resulted in the euro being about 23% higher than the same period last year. However there are also encouraging signs.
The percentage of companies with rising output has increased from 30% to 35%. Our Group is one of the world leaders in a sector which sooner or later will see an improvement in its economic situation."

The in-focus section contains a short overview of the Ceramiche Ricchetti Group and complete economic figures for the Group's economic performance. ricchettilogo.gifCeramiche Ricchetti GroupCeramiche Ricchetti Group

Gruppo Ceramiche Ricchetti Spa is an industrial holding company which manufactures and markets ceramic floor and wall tiles for exteriors and interiors. In 2002 it reported a consolidated turnover of 311 million euro.
It is one of the largest companies in its sector both in Italy and in the world and in 1996 became the first to be floated on the stock exchange. The Ceramiche Ricchetti Group has 15 production facilities (seven in Italy, mostly located in the Sassuolo ceramic area, and eight in Europe). It employs about 2,500 people and has an annual production of approximately 40 million square metres of tiles, 80% of which are sold abroad.

The Group comprises:

In Italy:

Ricchetti - Cisa - Cerdisa - Smov
Gres 2000 (porcelain tile polishing)
Cotto Arena (brands Stilgres and Tilegres)
Abroad:

Cinca (Portugal)
CC Hoganas Byggkeramik (Sweden)
Pukkila (Finland)
Klingenberg Dekoramik (Germany)
Evers (Denmark)
Hoganas Byggkeramik (Norway)
Hoganas Ceramique (France)
Ricchetti Ceramic Inc. (USA)
United Tiles (Luxemburg)
Casa Reale (USA)
Bellegrove (UK)
Gruppo Ricchetti Espana (Spain)
Gruppo Ricchetti Far East (Singapore)
The complete economic figuresSemestralericchetti.pdf